Question: Charger Electronics had the following items that require adjusting entries at the end of the year. Charger pays its employees $2,560 every Friday for a

Charger Electronics had the following items that require adjusting entries at the end of the year. Charger pays its employees $2,560 every Friday for a 5-day work week. This year December 31 falls on a Thursday. Charger earned income of $150,000 for the year for tax purposes. Its effective tax rate is 30%. These taxes must be paid by April 15 of next year. Charger borrowed $50,000 with a note payable dated October 1. This note specifies 8%. The

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